Baltimore Checkbook: SocialToaster is raising — lots of

Thursday, April 7, 2016

SocialToaster is raising — lots of — money again

SocialToaster Inc. expects to close a new round of equity and convertible note financing by the end of the month. The Baltimore social media marketing firm expects to raise around $3 million in new equity, which will trigger a convertible note of $4.9 million, for a total of about $7.7 million. Since the round has not yet closed, the total amount of new equity is subject to change, said Chief Financial Officer Tom Heseltine. A convertible note is a form of debt financing that converts to equity…